EV Charging Cables Market

Market Overview:

The global EV charging cables market size reached US$ 837.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,891.2 Million by 2028, exhibiting a growth rate (CAGR) of 21.9% during 2023-2028. The rising adoption of electric vehicles (EVs), increasing government investment to install EV charging stations, and the recent development of high-power EV charging cables represent some of the key factors driving the market.

Electric vehicle (EV) charging cables refer to cords that supply electricity from charging stations to recharge EVs. They are manufactured using various raw materials, such as silicone, polyvinyl chloride (PVC), cross-linked polyethylene (XLPE), thermoplastic elastomers (TPE), and ethylene propylene rubber (EPR). EV charging cables are widely used to provide alternating current (AC) and direct current (DC) charging to battery-operated electric and hybrid vehicles. They are safe, flexible, lightweight, cost-effective, versatile, and highly durable products that are user-friendly and provide efficient charging. EV charging cables offer increased convenience and easy portability and can withstand high working voltage and transmit large currents.

EV Charging Cables Market Trends:

The rising adoption of EVs to reduce the carbon footprint across the globe is one of the primary factors driving the market growth. EV charging cables are widely utilized in domestic and public charging stations to recharge various EVs, such as sedans, sports utility vehicles (SUVs), hatchbacks, buses, trucks, light commercial vehicles (LCVs), e-scooters, bikes, and other two-wheelers. In addition to this, the implementation of various government initiatives to promote the adoption of EVs to curb environmental pollution and reduce reliance on fossil fuels is acting as another growth-inducing factor. Furthermore, increasing investment by several governments and automotive manufacturers to install EV charging stations across highways, expressways, petrol pumps, cities, shopping malls, and other public spaces to meet the rising EV demand and ensure smooth intra-city and inter-city commuting experiences for drivers is providing an impetus to the market growth. Additionally, the recent development of high-power EV charging cables that are equipped with an advanced cooling system consisting of a water-glycol mixture to provide faster charging is positively influencing the market growth. Apart from this, the introduction of innovative products that provide charging status through light-emitting diode (LED) indicators and offer protection against overheating of domestic plugs is favoring the market growth. Other factors, including easy product availability across e-commerce platforms, the introduction of smart EV charging cables, increasing investment in the research and development (R&D) of new products, and rising demand for fast charging cables, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global EV charging cables market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on cable length, shape, charging level, power type, and application.

Cable Length Insights:

• Below 5 Meter
• 6 Meter to 10 Meter
• Above 10 Meter
   

The report has provided a detailed breakup and analysis of the EV charging cables market based on the cable length. This includes below 5 meter, 6 meter to 10 meter, and above 10 meter. According to the report, below 5 meter represented the largest segment.

Shape Insights:

• Straight
• Coiled
   

A detailed breakup and analysis of the EV charging cables market based on the shape has also been provided in the report. This includes straight and coiled. According to the report, straight accounted for the largest market share.

Charging Level Insights:

• Level 1
• Level 2
• Level 3
   

A detailed breakup and analysis of the EV charging cables market based on the charging level has also been provided in the report. This includes level 1, 2, and 3. According to the report, level 1 accounted for the largest market share.

Power Type Insights:

• AC Charging
• DC Charging
   

A detailed breakup and analysis of the EV charging cables market based on the power type has also been provided in the report. This includes AC and DC charging. According to the report, AC charging accounted for the largest market share.

Application Insights:

• Private Charging
• Public Charging
   

A detailed breakup and analysis of the EV charging cables market based on the application has also been provided in the report. This includes private and public charging. According to the report, private charging accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for EV charging cables. Some of the factors driving the Asia Pacific EV charging cables market included increasing adoption of electric vehicles (EVs), rising government initiatives, and significant technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global EV charging cables market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include AG Electrical Technology Co., Besen International Group Co. Ltd., Brugg Group, Coroplast Fritz Müller GmbH & Co. KG, Dyden Corporation, Eland Cable Limited, EV Cables UK (Wottz Group), EV Teison, Leoni AG, Phoenix Contact GmbH & Co. KG, Sinbon Electronics Co. Ltd., Systems Wire Cable, TE Connectivity Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global EV charging cables market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global EV charging cables market?
• What is the impact of each driver, restraint, and opportunity on the global EV charging cables market?
• What are the key regional markets?
• Which countries represent the most attractive EV charging cables market?
• What is the breakup of the market based on the cable length?
• Which is the most attractive cable length in the EV charging cables market?
• What is the breakup of the market based on the shape?
• Which is the most attractive shape in the EV charging cables market?
• What is the breakup of the market based on charging level?
• Which is the most attractive charging level in the EV charging cables market?
• What is the breakup of the market based on power type?
• Which is the most attractive power type in the EV charging cables market?
• What is the breakup of the market based on application?
• Which is the most attractive application in the EV charging cables market?
• What is the competitive structure of the global EV charging cables market?
• Who are the key players/companies in the global EV charging cables market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the EV charging cables market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global EV charging cables market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the EV charging cables industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.